Ingushetia plans to cut its unemployment rate to 20% by 2016 – Yevkurov

Now the republic has one of the biggest unemployment rates in the country, which amounts to 40 percent

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ST. PETERSBURG, October 17 (Itar-Tass) —— Ingushetia’s unemployment rate is planned to be cut to 20 percent by 2016, Republican Leader Yunus-Bek Yevkurov said in the format of the forum entitled, Strategic Planning in the Regions and Cities of Russia, which opened in St. Petersburg on Monday.

In his words, the decline of the unemployment rate is the first task, which was set by the republican authorities in the format of the program aimed at the social and economic development of the Republic of Ingushetia.

According to Yevkurov, now the republic has one of the biggest unemployment rates in the country, which amounts to 40 percent. The republic plans to decrease the indicator by ten percent before the end of the current year, he said.

The head of the republic is confident that the fulfilment of the economic development program will make it possible to cut the unemployment rate to 20 percent by 2016, and to reach Russia’s average index in the future.

The major goal for the economic development of the republic is the creation of favourable conditions for the drawing of foreign investments, Yevkurov said.

“Presently, Ingushetia is not the most attractive territory for investments. And we acknowledge this fact,” he said, adding that the republic has colossal unused potential in the industrial production sphere.

The leader of the republic is confident that Ingushetia has potential for the development of other promising spheres of the economy, first of all tourism.

“Besides, Ingushetia has good chances for the sale of such construction materials, which are unique for other regions – fine wood, black and white granite,” he said.

While addressing the forum, Yevkurov said that the republic has three sites, where it can produce all sorts of glass. He also reported about the plans to set up three ore-dressing and processing facilities.